NIKE, Inc. (NYSE: NKE) – Equity researchers at Jefferies Financial Group released their first quarter 2023 earnings estimates for NIKE in a research report to customers and investors on Wednesday, July 14. Jefferies Financial Group analyst R. Konik expects the shoe maker to post earnings per share of $ 1.30 for the quarter. Jefferies Financial Group currently has a “Buy” rating and a target price of $ 200.00 for the stock. Jefferies Financial Group also released estimates for NIKE second quarter 2023 earnings at $ 1.27 per share, third quarter 2023 earnings at $ 1.30 per share, and fourth quarter 2023 earnings at $ 1.14. per share.
A number of other research analysts have also weighed on the stock recently. Citigroup downgraded NIKE shares from a “buy” rating to a “neutral” rating and raised its price target for the company from $ 140.00 to $ 160.00 in a report released on Tuesday, April 20 . DZ Bank reaffirmed a “sell” note on NIKE shares in a research note on Friday, June 25. Credit Suisse Group increased its price target on NIKE from $ 165.00 to $ 183.00 and gave the stock an “outperformance” rating in a Friday June 25 research report. Morgan Stanley raised its NIKE price target from $ 185.00 to $ 214.00 and rated the stock “overweight” in a Friday June 25 research note. Finally, HSBC increased its price target on NIKE from $ 158.00 to $ 162.00 and gave the stock a “buy” rating in a research note on Wednesday, March 31. One research analyst rated the stock with a sell rating, four assigned a conservation rating, and twenty-nine issued a buy rating for the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $ 172.39.
NIKE shares opened at $ 161.54 on Thursday. NIKE has a 52-week low of $ 95.11 and a 52-week high of $ 162.73. The stock has a market cap of $ 255.23 billion, a price / earnings ratio of 45.39, a P / E / G ratio of 2.51, and a beta of 0.86. The company has a 50-day moving average of $ 140.64. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt ratio of 0.74. NIKE (NYSE: NKE) last released its quarterly earnings data on Wednesday, June 23. The shoe maker reported earnings per share of $ 0.93 for the quarter, beating consensus analysts’ estimates of $ 0.51 by $ 0.42. The company posted revenue of $ 12.30 billion in the quarter, compared to $ 11.02 billion expected by analysts. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company’s quarterly revenue increased 94.8% year-over-year. During the same period of the previous year, the company posted EPS ($ 0.51).
Several institutional investors have recently changed their holdings in NKE. Norges Bank acquired a new position in NIKE in the fourth quarter valued at $ 1,903,194,000. Morgan Stanley increased its stake in NIKE by 31.3% in the fourth quarter. Morgan Stanley now owns 19,496,387 shares of the shoe maker valued at $ 2,758,153,000 after acquiring an additional 4,643,842 shares in the last quarter. Price T Rowe Associates Inc. MD increased its ownership of NIKE shares by 18.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,300,888 shares of the shoe maker valued at $ 4,142,170,000 after purchasing an additional 4,468,961 shares during the period. WCM Investment Management LLC acquired a new position in shares of NIKE in the 4th quarter valued at approximately $ 257,241,000. Finally, D1 Capital Partners LP purchased a new equity stake in NIKE during the 1st quarter valued at approximately $ 223,388,000. Hedge funds and other institutional investors hold 64.64% of the company’s shares.
In other NIKE news, Chairman Mark G. Parker sold 140,000 shares in a trade on Thursday, July 8. The stock was sold for an average price of $ 160.16, for a total value of $ 22,422,400.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Additionally, Vice President Chris L. Abston sold 16,500 shares of the company in a trade on Friday, June 25. The shares were sold at an average price of $ 152.00, for a total value of $ 2,508,000.00. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 380,118 shares of the company valued at $ 59,227,100. 3.80% of the shares are currently held by insiders of the company.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 1. Investors of record on Tuesday, June 1 received a dividend of $ 0.275 per share. This represents a dividend of $ 1.10 on an annualized basis and a return of 0.68%. The ex-dividend date was Friday May 28. NIKE’s dividend payout ratio is currently 30.90%.
NIKE Company Profile
NIKE, Inc., along with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories around the world. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, soccer, training and sportswear. It also markets products designed for children, as well as for other sporting and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball. ball, walking, wrestling and other outdoor activities; and clothing with logos of licensed college and professional teams and leagues, as well as sportswear.
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